Question

In one year, you will make an initial deposit in the amount of $2,000 in a...

In one year, you will make an initial deposit in the amount of $2,000 in a new savings account. You plan to make additional deposits in the same amount of $2,000 for 17 years after the initial deposit. There will only be these 18 deposits and no withdrawals made to your account. Assume the interest rate you will earn is 4% per year. How much will your account be worth in 18 years?

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